CEO of cryptocurrency exchange Binance, Changpeng Zhao, has hinted at the creation of a new fiat-to-crypto exchange in Argentina in a tweet sent on March 9. The tweet was in reply to a piece published by crypto news website CoinSpice. The article in question concerned the agreement between the government of Argentina with Binance Labs, the exchange’s investment and social impact arm, to co-invest in blockchain projects that are backed by the exchange. Zhao’s comment contained in the tweet apparently suggested that Binance has plans to establish a fiat-to-cryptocurrency exchange in Argentina. More precisely, the tweet stated: “Guess where we …

The Central Bank of the Bahamas has announced its key collaborators for the development of a digital fiat currency system in the island country, according to an official document released on March 1. Called “Project Sand Dollar,” the new initiative intends to provide equal access to digital payments capabilities, reducing cash transactions and service delivery costs. The pilot also aims to improve operational efficiency and overall financial inclusion in communities across the Bahamas. In order to implement the project, the Bahamas central bank will reportedly cooperate with transaction provider NZIA.io — bringing “together the collective know-how and expertise of IBM” …

Digital payments firm Wirex has released a major platform update, Wirex 3.0, adding ten new fiat currencies, according to an official press release on Feb. 27. From now, Wirex users in the European Economic Area (EEA) can access “unconditional access” to over-the-counter rates for cryptocurrency exchanges, as well as interbank rates for traditional currency exchanges. The press release clarifies that the update also brings these new features to residents of the Asia-Pacific region and Canada, letting said users operate their Wirex accounts in their local fiat currency for the first time. According to the statement on Wirex’s “Money Management” page, …

An upcoming crypto ecosystem has bold ambitions to offer “a much smoother way of moving fiat and cryptocurrency over the internet,” enabling people to pay in the fiat or crypto of their choice — whatever the requested currency — without fees. YPTOspace says it plans to develop a “first-of-its-kind platform that connects blockchain assets to real-world payment platforms,” all with the goal to become a one-stop-shop for payments and transactions for consumers and businesses. The startup argues that the current landscape is a “miserable experience” for consumers and impractical for daily usage. Yet, at the same time, mainstream adoption of …

The United Arab Emirates’ (UAE) largest real estate development firm, Emaar Properties, has officially denied reports that it enabled crypto payments for property, Bloomberg reported on Feb. 20. Known for developing the world’s tallest building, Burj Khalifa — located in Dubai — the firm told Bloomberg that it currently accepts only fiat currencies, such as UAE Dirhams (AED) or United States dollars as payment for property purchases. The publication cited an Emaar Properties spokesperson as providing the confirmation. In the report, Bloomberg cited Australian crypto-focused website Micky as one of websites that initially reported that the real estate giant had …

Billionaire investor and known Bitcoin (BTC) bull Tim Draper argued that in five years, only criminals will use fiat as crypto becomes universally widespread. Draper made his claims in an interview with American financial news tv channel Fox Business released on Feb. 18. Reiterating his previous statements predicting that fiat money will become laughable and obsolete in five years, Draper has elaborated on his forecast, stating that nobody but criminals will keep using cash, since criminals who use crypto can be tracked via blockchain. He said: “The criminals will still want to operate with cash, because they catch everybody who …

The Central Bank of Chile (BCC) believes that cryptocurrencies are unable to substitute traditional money, according to an in-depth report on crypto issued Feb. 7. The document, signed by the central bank’s president Mario Marcel, was prepared upon request of the Tribunal de Defensa de la Libre Competencia (TDLC). The TDLC is an independent anti-monopoly institution established to ensure that free competition rules are not violated in Chile. The organization actively participated in a recent legal battle between Latin American crypto exchanges and Chilean banks. As per the BCC, Bitcoin (BTC) and other major cryptocurrencies that were created as alternatives …

Digital wallet Abra has introduced new features enabling global investors to invest in shares and exchange-traded funds (ETFs) using Bitcoin (BTC), according to a press release shared with Cointelegraph on Feb. 6. The United States-based firm has announced early access registration to the platform, allowing investors in more than 155 countries to invest in 50 new traditional investment assets with zero trading fees through the rest of 2019 using the leading crypto. Those assets reportedly include major stocks such as Facebook, Apple, Amazon, Google, Netflix, commodities such as SPDR Gold Trust, ETFs like Vanguard Growth and the S&P 500, and …

Huobi.com, the United States-based partner of Singapore-headquartered crypto exchange Huobi, is launching fiat-crypto trading services, with initial support for three USD-crypto trading pairs. The development was revealed in a press release shared with Cointelegraph on Feb. 5. Huobi.com is operated by HBUS, which launched as a strategic partner of Huobi Group — operator of the flagship Huobi Global crypto exchange — via a newly created San Francisco-based company “HBUS Holdco, Inc.” last June. Following a rebranding campaign and adoption of the Huobi brand name, HBUS.com migrated to Huobi.com this January. Huobi.com’s expansion beyond crypto-crypto transactions comes as other leading crypto …

Major United States crypto exchange and wallet provider Coinbase is launching support for European Union residents to make fiat currency withdrawals to online payment system PayPal. The development was announced in an official blog post published on Feb. 5. As reported, Coinbase had first rolled out PayPal withdrawal support for U.S. users last month. The European extension of the service will reportedly apply to both E.U. residents and those living in European Free Trade Association countries — Iceland, Liechtenstein, Norway and Switzerland. Coinbase had previously integrated support for PayPal back in summer 2016, but terminated the service within several weeks …

An Indian governmental committee is concerned by the impact that cryptocurrency could have on the rupee, if it is allowed to be used for payments, according to a report published by Quartz on Feb. 4. The article refers to government panel led by Indian Economic Affairs Secretary and former Executive Director at the World Bank, Subhash Chandra Garg, which was reportedly set up in November 2017. An anonymous source active in the crypto industry — and who reportedly recently met with the committee — is quoted by Quartz as saying: “If Bitcoin and other digital currencies are going to be …

In the United States, the state of Wyoming passed a bill that will allow for cryptocurrencies to be recognized as money on Jan. 31, according to the state legislature website. On Jan. 18, Wyoming legislation presented the bill, which would help to clarify the classification of cryptocurrency. As reported by Cointelegraph earlier this month, the bill will place crypto assets into three categories: digital consumer assets, digital securities and virtual currencies. Any digital assets that fall into those three categories will be defined as intangible personal property, granting virtual currencies the same treatment as fiat money. The proposed bill also …